John Hopkins of InvestedCentral.com has an interesting take on CNBC‘s coverage Thursday of the sudden departure of a Berkshire Hathaway executive being groomed to succeed Warren Buffett given that the business news network’s Becky Quick has cultivated a strong relationship with Buffett.
“Quick and Kernan actually asked some pretty tough and direct questions of Sokol, including the questionable timing of his purchases of the stock. But, when is the last time you saw CNBC take a full half hour to conduct an interview prime time prior to the market open? That’s most likely a courtesy to Buffet, to try to nip this in the bud quickly. Even if Sokol ultimately ends up getting skewered by the SEC.
“It brings up the question; how objective can CNBC be when they cherish a continuing relationship with Buffet? Quick has a gold mine with Buffet at her disposal for on-air interviews; it doesn’t get much better than that. Thus, one has to take with a grain of salt this entire interview. Except, that is, Buffet, as he got out of Quick and CNBC exactly what he needed; an on air crucifixion of someone he no longer needs.”
Read more here.
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